Nagasaki governor Kengo Oishi says the change of hands will not affect funding for the planned integrated resort.<\/p>\n\n\n\n\n\n\n\n
Japan.- Nagasaki governor Kengo Oishi<\/strong> has said that funding for a planned casino resort “should not be affected” by the sale of Credit Suisse Group to UBS Group in a CHF3bn (US$3.25bn) emergency rescue brokered by the Swiss government.<\/p>\n\n\n\n Oishi said the prefecture has gathered information from Casinos Austria International Japan Inc, Kyushu Resorts Japan and advisors. Credit Suisse has previously said it was interested in acting as a financial arranger for Nagasaki\u2019s integrated resort (IR) project<\/a>. <\/p>\n\n\n\n Oishi has previously suggested that Credit Suisse, together with Cantor Fitzgerald could participate in the 80 per cent equity portion of the financing and also arrange loans for a portion of the funds for the IR. <\/p>\n\n\n\n Nagasaki is one of two cities that have submitted bids<\/a> to develop IRs in Japan. It has chosen Casinos Austria International Japan Inc<\/strong> as partner for its bid<\/a> and expects the IR to open in 2027. The expected cost for development is JPY438.3bn (US$3.8bn)<\/a>, including JPY175.3bn in equity costs.<\/p>\n\n\n\n JPY1.52bn<\/strong> (US$11.4m) has been allocated in the 2023 budget, with JPY427.7m for its IR promotion division<\/strong>, a 147 per cent increase from the 2022 budget.<\/p>\n","protected":false},"excerpt":{"rendered":" Nagasaki governor Kengo Oishi says the change of hands will not affect funding for the planned integrated resort.<\/p>\n","protected":false},"author":176,"featured_media":20877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Nagasaki Governor Kengo Oishi asserts that the acquisition of Credit Suisse by UBS will not impede the financing for the planned JPY438.3bn integrated resort project. Credit Suisse was previously identified as a potential financial arranger and equity participant for the Nagasaki IR, partnered with Casinos Austria International Japan Inc. The prefecture is actively progressing with its IR development, allocating JPY1.52bn in its 2023 budget.","focusai_entities":"Kengo Oishi, Credit Suisse Group, UBS Group, Casinos Austria International Japan Inc, Kyushu Resorts Japan, Cantor Fitzgerald, Swiss government","focusai_location":"Nagasaki, Japan, Switzerland","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"IR Funding Stability","query":"What specific contingency plans or alternative financing arrangements has Nagasaki Prefecture secured to mitigate potential funding risks following Credit Suisse's acquisition by UBS, beyond the Governor's assertion?"},{"label":"Equity Partner Impact","query":"How might the change in Credit Suisse's status affect Cantor Fitzgerald's previously suggested participation in the 80% equity portion, and what is the current status of securing the full JPY175.3bn equity requirement?"}],"footnotes":""},"categories":[157,16338],"tags":[23632],"class_list":["post-777003497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777003497"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003497\/revisions"}],"predecessor-version":[{"id":777003514,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777003497\/revisions\/777003514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20877"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777003497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777003497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777003497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}